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Use the following information for the month of May: May 1 Beginning inventory 7 Purchases 18 Sales 22 Purchases 29 Sales 20 units @ $16

Use the following information for the month of May: May 1 Beginning inventory 7 Purchases 18 Sales 22 Purchases 29 Sales 20 units @ $16 70 units @ $20 25 units 40 units @ $22 10 units Assuming that a Moving Average perpetual inventory system is used, what is Cost of Goods Sold? Select one: O a. $1,880 O b. $763 O c. $700 O d. $680 O e. $1,920

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